Gold Prices Continue to Fall in Pakistan

Gold prices in Pakistan fell on Thursday, mirroring declines in the international market. In the local market, the price of gold per tola dropped to Rs. 441,462 after a decrease of Rs. 1,700 during the day. Similarly, 10-gram gold was sold at Rs. 378,482, down by Rs. 1,457, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Wednesday, the price per tola had reached Rs. 444,162 after a decline of Rs. 2,700 during the day. Internationally, the price of gold declined by $17 to reach $4,191 per ounce, including a $20 premium. Meanwhile, the price of silver in the local market also decreased by Rs. 85 to Rs. 6,000 per tola. Global gold prices dipped on Thursday as investors booked profits and adopted a cautious stance ahead of next week’s U.S. Federal Reserve meeting, awaiting key data for clearer signals on the central bank’s interest rate outlook. Spot gold slipped 0.5 percent to $4,179.71 per ounce as of 0617 GMT, while U.S. gold futures for December delivery were down 0.5 percent at $4,210.20 per ounce.